Deglobalization processes in the global economy and prospects for its innovative development

Abstract

Subject. The article addresses problems related to the innovative development of the modern world economy, the pace of which is likely to decrease due to the ongoing processes of deglobalization. Objectives. The purpose is to analyze the essence, nature, and directions of deglobalization processes, study their nature, and find out the possibility that deglobalization processes in the modern economy will have a restraining effect on its innovative development. Methods. The study rests on methods of induction and deduction, analysis and synthesis, statistical and graphical methods for data representation. Results. Three main positions determine the future of the globalization process. They unite both representatives of economic science and business community. The analysis of ongoing transformations demonstrated a number of trends in the development of international economic relations, confirming their deglobalization character. These trends have a negative impact on the development of international scientific and technical cooperation and prospects for innovative economic development. This is characterized by the ongoing reduction in the number of international investment innovation and technological initiatives. Conclusions. The ongoing transformations in the world economy, characterized by a number of researchers as a process of deglobalization, need further study. The nature of deglobalization processes is largely determined by the desire to implement a policy of technological deterrence, which seems counterproductive.